Cheung Kong Shares Fall as Li
Prepares to Hand Reins to Son

HONG KONG -- Billionaire Li Ka-shing, one of Asia's most powerful businessmen, will soon pass the torch to his son, Victor Li Tzar-kuoi -- a prospect that has already begun unsettling some investors.

On Thursday, Cheung Kong (Holdings) Ltd. announced that the elder Mr. Li, 69 years old, would step down as managing director next Jan. 1, to be succeeded by his eldest son, Victor. Though the news has long been anticipated, Cheung Kong shares fell 3.8% each to HK$50.50 (US$6.52) in a sign that the market is uncertain whether 34-year-old...